CFM Wealth Partners LLC Has $724,000 Stake in Western Midstream Partners, LP (NYSE:WES)

CFM Wealth Partners LLC cut its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 41.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,360 shares of the pipeline company's stock after selling 14,680 shares during the period. CFM Wealth Partners LLC's holdings in Western Midstream Partners were worth $724,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Jennison Associates LLC grew its stake in Western Midstream Partners by 96.0% during the first quarter. Jennison Associates LLC now owns 1,928,179 shares of the pipeline company's stock worth $68,547,000 after buying an additional 944,494 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its stake in Western Midstream Partners by 27.4% during the first quarter. Kayne Anderson Capital Advisors LP now owns 4,165,829 shares of the pipeline company's stock worth $148,095,000 after buying an additional 895,715 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Western Midstream Partners by 174.3% during the first quarter. BNP Paribas Financial Markets now owns 417,302 shares of the pipeline company's stock worth $14,835,000 after buying an additional 265,143 shares in the last quarter. Blackstone Inc. lifted its holdings in shares of Western Midstream Partners by 2.0% in the first quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company's stock worth $461,465,000 after acquiring an additional 259,928 shares during the last quarter. Finally, BROOKFIELD Corp ON lifted its holdings in shares of Western Midstream Partners by 2.7% in the first quarter. BROOKFIELD Corp ON now owns 2,953,510 shares of the pipeline company's stock worth $104,997,000 after acquiring an additional 77,942 shares during the last quarter. 42.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WES has been the subject of a number of research reports. UBS Group increased their target price on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a "neutral" rating in a report on Wednesday, September 18th. Royal Bank of Canada increased their target price on shares of Western Midstream Partners from $38.00 to $41.00 and gave the stock a "sector perform" rating in a report on Wednesday. Morgan Stanley cut shares of Western Midstream Partners from an "overweight" rating to an "equal weight" rating and set a $42.00 target price for the company. in a report on Monday, September 16th. Stifel Nicolaus increased their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a "hold" rating in a report on Friday, August 9th. Finally, StockNews.com cut shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $37.13.

Insiders Place Their Bets

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.04% of the company's stock.

Western Midstream Partners Trading Up 1.4 %

NYSE WES traded up $0.55 during trading hours on Wednesday, reaching $39.35. The company's stock had a trading volume of 763,439 shares, compared to its average volume of 1,214,429. The firm has a fifty day simple moving average of $38.61 and a 200-day simple moving average of $38.21. The stock has a market cap of $14.97 billion, a P/E ratio of 10.14, a P/E/G ratio of 0.75 and a beta of 2.87. Western Midstream Partners, LP has a 52 week low of $26.49 and a 52 week high of $42.80. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.68 and a quick ratio of 1.68.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The firm had revenue of $905.63 million during the quarter, compared to analyst estimates of $904.94 million. During the same quarter last year, the business earned $0.64 EPS. The company's revenue was up 22.7% compared to the same quarter last year. Equities analysts forecast that Western Midstream Partners, LP will post 4.15 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.875 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.50 annualized dividend and a yield of 8.89%. Western Midstream Partners's payout ratio is 90.21%.

Western Midstream Partners Profile

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.